Statistics Package 2014-10 - Fraser Valley - Fraser Valley Real Estate
Fraser Valley Real Estate Board Monthly Statistics Package October 2014
News Release Fraser Valley Real Estate Board For Immediate Release: November 4, 2014
Increased demand for Fraser Valley townhouses and single family homes SURREY, BC – The Fraser Valley Real Estate Board processed 1,448 sales on its Multiple Listing Service (MLS®) in October, an increase of 16 per cent compared to the 1,249 sales during the same month last year and 2 per cent more than in September. Ray Werger, the Board’s president, says, “Sales overall continue to outperform last year and as we’ve seen for a number of months now are the best they’ve been in five years. “Demand remains steady in our region for single family detached homes and townhomes. Last month, the market share of sales of single family homes increased by almost five per cent compared to last year; while the share of condo sales decreased by the same amount and we’re seeing that preference reflected in prices.” The MLS® Home Price Index (MLS® HPI) benchmark price of a detached home in October was $573,500 an increase of 4 per cent compared to October 2013, when it was $551,400. The MLS® HPI benchmark price of townhouses increased 1 per cent from $295,500 in October 2013 to $298,500 last month. The benchmark price of apartments decreased year‐over‐year by 3.5 per cent, going from $199,500 in October of last year to $192,600 in October 2014. In the last five years, the MLS® HPI benchmark price of a detached home in the Fraser Valley has increased by 16.6 per cent. For townhouses, the price is flat having increased by 0.5 per cent and for apartments; the price has decreased by 6 per cent. Werger adds, “With the influx of new developments and a steady supply of resale units, we’ve never had a better selection of condos than we do right now at prices the lowest they’ve been in years. For those that say housing isn’t affordable in Metro Vancouver, you need to check out the opportunities currently for condo buyers in the Valley.” In October, new listings in the Fraser Valley increased by 3 per cent, going from 2,336 last year to 2,395 last month taking the number of active listings to 8,807, a decrease of 3 per cent compared to the 9,047 active listings in October of 2013. “Inventory is edging down, which is typical for this time of year,” says Werger. “The result is we’re seeing good quality homes that are priced right moving quickly.” —30 —
The Fraser Valley Real Estate Board is an association of 2,738 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marked its 90‐year anniversary in 2011.
Contact Laurie Dawson, Assistant Manager, Communications Fraser Valley Real Estate Board
[email protected] Telephone 604.930.7657 Fax 604.930.7623 www.fvreb.bc.ca
MLS® Summary - Fraser Valley October 2014 All Property Types Grand Totals
Oct-14
Oct-13
Sales
1,448
1,249
New Listings
2,395
Active Listings
8,807
Average Price
$ 530,345
$ 482,951
Oct-14
Oct-13
% change
All Property Types
Sept-14
% change
15.9%
1,419
2.0%
2,336
2.5%
2,758
-13.2%
9,047
-2.7%
9,156
-3.8%
9.8% $ 515,349
2.9%
Grand Totals - year to date
Detached All Areas Combined
% change
2014
2013
% change
Sales - year to date
13,642
11,796
15.6%
New Listings - year to date
27,746
26,551
4.5%
Townhouse Sept-14
% change
Oct-14
Oct-13
% change
Apartment Sept-14
% change
Oct-14
Oct-13
% change
Sept-14
% change
Sales
739
584
26.5%
716
3.2%
322
278
15.8%
294
9.5%
225
240
-6.3%
226
New Listings
997
982
1.5%
1,239
-19.5%
440
440
0.0%
576
-23.6%
524
411
27.5%
491
6.7%
3,140
3,519
-10.8%
3,376
-7.0%
1,385
1,310
5.7%
1,463
-5.3%
1,719
1,613
6.6%
1,712
0.4%
Active Listings
-0.4%
Benchmark Price
$ 573,500
$ 551,400
4.0% $ 569,800
0.6% $ 298,500
$ 295,500
1.0% $ 299,600
-0.4% $ 192,600
$ 199,500
-3.5% $ 193,600
-0.5%
Median Price
$ 595,000
$ 558,950
6.4% $ 570,000
4.4% $ 335,000
$ 320,500
4.5% $ 335,450
-0.1% $ 206,000
$ 207,500
-0.7% $ 215,000
-4.2%
Average Price
$ 671,078
$ 624,912
7.4% $ 630,563
6.4% $ 355,624
$ 336,169
5.8% $ 362,890
-2.0% $ 225,105
$ 224,308
0.4% $ 246,873
-8.8%
Oct-14
Oct-13
Detached Abbotsford S Sales New Listings Active Listings
% change
Townhouse Sept-14
% change
Oct-14
Oct-13
% change
Apartment Sept-14
% change
Oct-14
Oct-13
% change
Sept-14
% change
94
82
14.6% %
95
-1.1% %
32
35
-8.6% %
34
-5.9% %
37
51
-27.5% %
44
-15.9% %
137
151
-9.3%
162
-15.4%
57
71
-19.7%
63
-9.5%
56
72
-22.2%
70
-20.0%
-17.4%
441
-3.2%
-1.9%
213
-1.9%
-19.2%
258
-8.9%
427
517
209
213
235
291
Benchmark Price
$ 443,100
$ 434,500
2.0% $ 446,600
-0.8% $ 221,600
$ 216,200
2.5% $ 219,900
0.8% $ 148,500
$ 146,800
1.2% $ 143,600
3.4%
Median Price
$ 430,000
$ 411,006
4.6% $ 465,000
-7.5% $ 247,050
$ 249,900
-1.1% $ 299,800
-17.6% $ 157,000
$ 140,500
11.7% $ 142,250
10.4%
Average Price
$ 447,309
$ 447,746
-0.1% $ 476,541
-6.1% $ 250,456
$ 252,317
-0.7% $ 282,974
-11.5% $ 176,639
$ 142,774
23.7% $ 153,200
15.3%
Oct-14
Oct-13
Detached Mission
% change
Townhouse Sept-14
% change
Oct-14
Oct-13
% change
Apartment Sept-14
% change
Oct-14
Oct-13
% change
Sept-14
% change
Sales
34
42
-19.0%
62
-45.2%
3
6
-50.0%
1
200.0%
2
3
-33.3%
2
0.0%
New Listings
56
57
-1.8%
72
-22.2%
5
5
0.0%
9
-44.4%
5
6
-16.7%
8
-37.5%
-2.6%
271
-4.1%
-17.2%
26
-7.7%
-3.1%
35
-11.4%
Active Listings
260
267
24
29
31
32
Benchmark Price
$ 368,800
$ 360,700
2.2% $ 366,600
0.6% $ 221,100
$ 224,400
-1.5% $ 215,300
2.7% $ 153,400
$ 157,200
-2.4% $ 155,400
-1.3%
Median Price
$ 381,500
$ 347,450
9.8% $ 388,500
-1.8% $ 245,000
$ 212,000
15.6% $ 258,000
-5.0% $ 153,000
$ 223,384
-31.5% $ 130,500
17.2%
Average Price
$ 355,983
$ 354,914
0.3% $ 407,379
-12.6% $ 235,333
$ 222,333
5.8% $ 258,000
-8.8% $ 153,000
$ 245,794
-37.8% $ 130,500
17.2%
Source: Fraser Valley Real Estate Board
MLS Summary Page 1 of 4
Detached White Rock / South Surrey
Oct-14
Oct-13
Sales
141
100
New Listings
203
Active Listings
558
Benchmark Price
$ 918,300
$ 843,700
Median Price
$ 910,000
Average Price
% change
Townhouse Sept-14
% change
Oct-14
Oct-13
41.0%
102
38.2%
47
46
154
31.8%
238
-14.7%
61
74
664
-16.0%
610
-8.5%
202
235
8.8% $ 903,000
1.7% $ 437,500
$ 463,100
$ 830,000
9.6% $ 824,000
10.4% $ 462,200
$ 1,063,442
$ 1,015,810
4.7% $ 1,005,972
5.7% $ 493,267
Oct-14
Oct-13
% change
2.2%
Apartment Sept-14
% change
Oct-14
Oct-13
% change
% change
Oct-14
% change
4.4%
63
59
6.8%
63
0.0%
-17.6%
82
-25.6%
148
107
38.3%
123
20.3%
-14.0%
221
-8.6%
414
370
11.9%
376
10.1%
-5.5% $ 455,600
-4.0% $ 247,900
$ 248,700
-0.3% $ 244,700
1.3%
$ 439,900
5.1% $ 533,000
-13.3% $ 280,000
$ 270,000
3.7% $ 314,900
-11.1%
$ 465,027
6.1% $ 522,783
-5.6% $ 295,530
$ 326,225
-9.4% $ 361,401
-18.2%
Townhouse Sept-14
Sept-14
45
Detached Langley
% change
Oct-13
% change
Apartment Sept-14
% change
Oct-14
Oct-13
% change
Sept-14
% change
Sales
118
99
19.2%
111
6.3%
86
54
59.3%
72
19.4%
53
37
43.2%
39
New Listings
135
147
-8.2%
183
-26.2%
95
91
4.4%
134
-29.1%
112
71
57.7%
85
31.8%
Active Listings
344
402
-14.4%
383
-10.2%
252
211
19.4%
281
-10.3%
256
241
6.2%
231
10.8%
Benchmark Price
$ 581,500
$ 560,800
3.7% $ 574,800
1.2% $ 292,600
$ 287,600
1.7% $ 294,600
-0.7% $ 194,800
$ 209,300
-6.9% $ 202,400
-3.8%
Median Price
$ 598,000
$ 585,000
2.2% $ 585,000
2.2% $ 339,250
$ 312,950
8.4% $ 341,450
-0.6% $ 206,000
$ 199,900
3.1% $ 206,500
-0.2%
Average Price
$ 634,469
$ 618,507
2.6% $ 599,988
5.7% $ 352,800
$ 309,079
14.1% $ 361,305
-2.4% $ 215,957
$ 207,416
4.1% $ 242,142
-10.8%
Delta - North
Oct-14 O
O Oct-13
Detached % change
Townhouse Sept-14 S
% change
Oct-14 O
Oct-13 O
% change
35.9%
Apartment Sept-14 S
% change
Oct-14 O
Oct-13 O
% change
Sept-14 S
% change
Sales
56
34
64.7%
52
7.7%
12
11
9.1%
9
33.3%
2
6
-66.7%
1
100.0%
New Listings
68
67
1.5%
74
-8.1%
8
17
-52.9%
22
-64%
4
3
33.3%
11
-63.6%
158
184
-14.1%
177
-10.7%
48
36
33.3%
59
-18.6%
24
16
50.0%
28
-14.3%
Benchmark Price
$ 558,800
$ 532,400
5.0% $ 551,200
1.4% $ 325,200
$ 293,300
10.9% $ 319,700
1.7% $ 157,200
$ 160,700
Median Price
$ 574,000
$ 519,000
10.6% $ 561,250
2.3% $ 483,500
$ 417,000
15.9% $ 465,000
4.0% $ 243,125
$
Average Price
$ 609,331
$ 544,735
11.9% $ 618,519
-1.5% $ 501,083
$ 459,772
9.0% $ 514,611
-2.6% $ 243,125
Active Listings
Source: Fraser Valley Real Estate Board
-2.2% $ 162,600
-3.3%
99,500
144.3% $ 217,000
12.0%
$ 128,833
88.7% $ 217,000
12.0%
MLS Summary Page 2 of 4
Detached Surrey - Combined* Sales Average Price
Oct-14
Oct-13
296
227
$ 617,706
$ 581,466
% change 30.4%
Townhouse Sept-14 293
6.2% $ 607,197
% change 1.0%
Oct-14
Oct-13
142
126
1.7% $ 325,725
$ 318,657
% change 12.7%
Apartment Sept-14 133
2.2% $ 320,601
% change 6.8%
Oct-14
Oct-13
68
84
1.6% $ 194,952
$ 215,720
% change -19.0%
Sept-14
% change
77
-11.7%
-9.6% $ 212,505
-8.3%
*Central Surrey, Cloverdale and North Surrey
Detached Surrey - Central
Oct-14
Oct-13
% change
Townhouse Sept-14
% change
Oct-14
Oct-13
% change
Apartment Sept-14
% change
Oct-14
Oct-13
% change
Sept-14
% change
Sales
154
125
23.2%
160
-3.8%
70
67
4.5%
75
-6.7%
17
13
30.8%
16
6.3%
New Listings
232
222
4.5%
282
-17.7%
129
104
24.0%
128
0.8%
55
37
48.6%
49
12.2%
-2.3%
902
-5.0%
0.6%
353
3.1%
19.1%
Active Listings
857
877
364
362
218
183
217
0.5%
Benchmark Price
$ 582,800
$ 569,700
2.3% $ 583,500
-0.1% $ 303,100
$ 297,500
1.9% $ 302,400
0.2% $ 189,300
$ 192,000
-1.4% $ 194,300
-2.6%
Median Price
$ 630,047
$ 585,900
7.5% $ 579,000
8.8% $ 328,250
$ 321,500
2.1% $ 320,900
2.3% $ 160,000
$ 183,000
-12.6% $ 215,000
-25.6%
Average Price
$ 639,976
$ 601,200
6.4% $ 618,734
3.4% $ 324,449
$ 314,076
3.3% $ 320,183
1.3% $ 161,235
$ 189,708
-15.0% $ 213,409
-24.4%
Oct-14
Oct-13
Detached Surrey - Cloverdale
% change
Townhouse Sept-14
% change
Oct-14
Oct-13
% change
Apartment Sept-14
% change
Oct-14
Oct-13
% change
Sept-14
% change
Sales
61
46
32.6%
73
-16.4%
50
33
51.5%
41
22.0%
10
16
-37.5%
10
0.0%
New Listings
63
61
3.3%
97
-35.1%
45
45
0.0%
92
-51.1%
29
20
45.0%
19
52.6%
186
220
-15.5% %
213
-12.7% %
162
120
35.0% %
190
-14.7% %
83
78
6.4% %
79
5.1% %
$ 602,100
$ 578,600
0.4% $ 326,600
$ 324,900
0.5% $ 325,900
0.2% $ 227,300
$ 229,500
-1.0% $ 225,900
0.6%
Active Listings Benchmark Price
4.1% $ 599,700
Median Price
$ 580,000
$ 564,450
2.8% $ 597,000
-2.8% $ 351,000
$ 319,000
10.0% $ 337,000
4.2% $ 209,450
$ 240,000
-12.7% $ 261,400
-19.9%
Average Price
$ 594,497
$ 586,977
1.3% $ 605,786
-1.9% $ 349,935
$ 336,669
3.9% $ 333,680
4.9% $ 207,770
$ 255,393
-18.6% $ 252,060
-17.6%
Detached Surrey - North Sales
Oct-14
Oct-13
% change
Townhouse Sept-14
% change
Oct-14
Oct-13
% change
Apartment Sept-14
% change
Oct-14
Oct-13
% change
Sept-14
% change
81
56
44.6%
60
35.0%
22
26
-15.4%
17
29.4%
41
55
-25.5%
51
-19.6%
New Listings
103
122
-15.6%
130
-20.8%
40
33
21.2%
46
-13.0%
115
95
21.1%
126
-8.7%
Active Listings
346
385
-10.1%
375
-7.7%
124
103
20.4%
120
3.3%
458
402
13.9%
488
-6.1%
$ 560,600
$ 532,700
5.2% $ 554,400
1.1% $ 252,700
$ 241,900
1.7% $ 191,500
$ 206,100
-7.1% $ 194,000
-1.3%
Benchmark Price
4.5% $ 248,400
Median Price
$ 507,000
$ 466,000
8.8% $ 525,000
-3.4% $ 271,500
$ 312,000
-13.0% $ 300,000
-9.5% $ 206,000
$ 207,500
-0.7% $ 204,000
1.0%
Average Price
$ 592,840
$ 532,889
11.3% $ 578,143
2.5% $ 274,759
$ 307,599
-10.7% $ 290,894
-5.5% $ 205,805
$ 210,327
-2.1% $ 204,465
0.7%
Source: Fraser Valley Real Estate Board
MLS Summary Page 3 of 4
MLS® Home Price Index - Fraser Valley October 2014 BENCHMARK
INDEX
ONE MONTH
THREE MONTH
SIX MONTH
ONE YEAR
THREE YEAR
FIVE YEAR
PRICE
(HPI)
% CHANGE
% CHANGE
% CHANGE
% CHANGE
% CHANGE
% CHANGE 14.6
RESIDENTIAL
LOWER MAINLAND
567,100
160.1
0.4
1.1
2.2
4.9
4.2
COMBINED
FRASER VALLEY BOARD
434,900
145.6
0.3
0.4
0.4
2.1
3.6
8.5
NORTH DELTA
520,200
161.2
1.1
1.4
0.9
5.3
7.3
17.5
NORTH SURREY
377,700
155.7
0.3
-0.6
-1.6
0.5
5.9
8.5
SURREY
457,600
147.9
-0.2
0.5
0.5
1.9
4.8
10.5
CLOVERDALE
489,900
145.8
0.3
0.8
0.2
2.4
5.9
10.1
SOUTH SURREY & WHITE ROCK
621,400
154.8
0.7
0.1
0.9
3.8
2.1
18.4
LANGLEY
429,500
139.7
-0.1
-0.4
-0.6
1.5
2.8
5.1
ABBOTSFORD
323,700
132.3
0.4
2.3
3.1
2.1
0.8
-0.5
MISSION
346,700
130.7
0.5
-0.1
1.6
1.8
2.4
0.0
LOWER MAINLAND
806,600
171.4
0.6
1.3
3.1
6.5
6.3
24.8
FRASER VALLEY BOARD
573,500
153.1
0.7
0.9
1.3
4.0
7.4
16.6
NORTH DELTA
558,800
163.0
1.4
0.8
0.7
5.0
8.0
19.5
NORTH SURREY
560,600
160.9
1.1
2.0
2.4
5.2
9.0
20.2
SURREY
582,800
155.7
-0.1
0.2
1.5
2.3
8.3
18.6
CLOVERDALE
602,100
151.1
0.4
1.7
1.3
4.1
9.2
17.4
SOUTH SURREY & WHITE ROCK
918,300
173.5
1.7
1.4
1.9
8.9
7.7
30.9
LANGLEY
581,500
145.7
1.2
1.2
1.1
3.7
6.7
11.0
DETACHED
TOWNHOUSE
APARTMENT
ABBOTSFORD
443,100
139.3
-0.8
0.1
0.7
2.0
6.7
7.7
MISSION
368,800
131.5
0.6
0.1
1.8
2.3
3.9
1.5
LOWER MAINLAND
401,400
145.7
0.1
0.9
1.8
3.0
0.5
7.1
FRASER VALLEY BOARD
298,500
132.5
-0.4
0.0
-0.1
1.0
-1.8
0.5
NORTH DELTA
325,200
157.9
1.7
5.2
5.2
10.9
12.3
17.8
NORTH SURREY
252,700
140.3
1.7
3.5
1.5
4.5
-2.1
-0.6
SURREY
303,100
133.4
0.2
1.2
0.2
1.9
0.2
1.1
CLOVERDALE
326,600
132.7
0.2
-0.3
-1.3
0.5
-0.1
-1.1 7.0
SOUTH SURREY & WHITE ROCK
437,500
133.1
-4.0
-6.6
-4.1
-5.5
-5.3
LANGLEY
292,600
133.6
-0.7
-0.4
-0.4
1.8
0.1
1.7
ABBOTSFORD
221,600
120.0
0.8
4.1
3.5
2.5
-9.2
-8.4 -7.9
MISSION
221,100
120.6
2.7
-0.3
3.3
-1.5
-7.2
LOWER MAINLAND
344,000
150.9
0.2
0.7
0.8
2.9
2.4
4.6
FRASER VALLEY BOARD
192,600
136.3
-0.5
-1.1
-1.9
-3.5
-2.8
-6.0
NORTH DELTA
157,200
134.6
-3.3
1.3
-6.1
-2.2
-11.4
-12.4
NORTH SURREY
191,500
153.3
-1.3
-5.6
-8.0
-7.1
4.1
-2.1
SURREY
189,300
143.6
-2.6
-0.1
-5.0
-1.4
-3.9
-6.5
CLOVERDALE
227,300
157.1
0.6
-1.3
-1.3
-1.0
5.9
3.4
SOUTH SURREY & WHITE ROCK
247,900
126.0
1.3
2.9
5.2
-0.3
-6.6
-4.7
LANGLEY
194,800
127.8
-3.8
-6.4
-7.3
-6.9
-7.2
-8.1
ABBOTSFORD
148,500
125.8
3.4
7.3
9.3
1.1
-4.7
-11.4
MISSION
153,400
130.5
-1.3
-2.1
-2.0
-2.4
-11.1
-12.4
© Fraser Valley Real Estate Board All indices equal 100 in January, 2005. An index of 120 indicates a 20% increase in price since January, 2005. Lower Mainland combines data across the Fraser Valley and Greater Vancouver real estate board areas.
Sales, Listings & Active Inventory, All Types, Fraser Valley Actives
Listings
Sales
14,000
12,000
10,000
8,000
6,000
4,000
2,000
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
0
Sales‐to‐Active Listings Ratio, All Types, Fraser Valley 45 40 35
Ratio
30
Sellers Market
25
Balanced Market
20 15
Buyers Market
10
Oct: 16%
5
© Fraser Valley Real Estate Board
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
0
MLS® Home Price Index Benchmark Prices, Fraser Valley Detached
Townhouse
Apartment
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
$0
Average Price, Residential Detached, all Fraser Valley Average Price, Residential Detached, all Fraser Valley $800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000 $ ,
$100,000
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
$0
Annual Sales, New Listings, Average Price All Property Types, Fraser Valley Sales
New Listings
Average Price
40,000
$600,000
35,000
$500,000
30,000 $400,000
25,000
20,000
$300,000
15,000
$200,000
10,000 $100,000
5,000
-
© Fraser Valley Real Estate Board
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
$-
